Student Loan Refinancing Calculator

Calculate your new monthly payment and total savings by refinancing your student loans. Compare current loan details against refinancing options to see potential cost reductions and pay off faster.

Refinancing Calculator

Enter your current loan info and potential refinancing terms to see payment comparisons and estimated savings.

Current Monthly Payment

New Monthly Payment

Monthly Savings

Total Interest Savings

How this Calculator Works

It compares your current loan payment and interest costs to what you’d pay if you refinance at a new rate and term. See how much you could save monthly and overall.

Tip: Lower interest rates and shorter terms often yield the biggest savings but may increase monthly payments.

Refinancing Formula

Monthly payment is calculated using:
M = P * r * (1 + r) ⁿ / ((1 + r) ⁿ - 1)
Where:
P = loan principal,
r = monthly interest rate,
n = number of payments.

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